Custom Health Holdings has entered into a definitive agreement to acquire Spencer Health Solutions, a developer of an in-home smart dispensing and monitoring system, for $25 million.
The acquisition is expected to close on September 1, 2026, subject to customary conditions and shareholder approvals.
As part of the transaction, Spencer Health Solutions will operate as a wholly owned subsidiary of Custom Health, and the Spencer team will join the company.
The Transaction is expected to deliver meaningful financial benefits, including margin expansion through the elimination of third-party support and infrastructure fees, reduced device costs, and full ownership and control of Spencer’s intellectual property and product roadmap.
Commenting on the acquisition, Shane Bishop, CEO of Custom Health, said, “This acquisition represents another step in Custom Health’s strategy of building the infrastructure for medication management at home by expanding capabilities and creating more opportunities to deploy technology-enabled, pharmacist-led care. It is expected to bring important device technology fully in-house, aligning product development and engineering directly with our pharmacy and clinical operations, while strengthening the proprietary foundation we’ve built with AdhereNet®.”
“We look forward to welcoming the Spencer team to Custom Health upon completion of the acquisition as we continue to scale our medication management capabilities across North America,” added Shane Bishop.
More than 5,000 digital health startups have been acquired to date, according to our latest M&A database. More recently, Acentra Health, a healthcare technology solutions company, has announced the acquisition of FEI Systems, a provider of healthcare information technology solutions for federal, state, and local health and human services agencies.
In another deal, Unite Us, a leading technology partner for integrating health and community-based care, has announced the acquisition of Vircho Health, a technology company whose performance and financial tools help the organizations running community care networks measure, optimize, and validate program performance.